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Malaysian Prime Minister Muhyiddin Yassin announced a 100% exemption from export duty on crude palm oil and palm kernel products from July 1 to December 31, 2020, under the Penjana recovery plan. The plan also allocates RM350 million to an agrofood loan facility.
The export duty exemption makes Malaysian palm oil cheaper to export, which can lift shipments and put downward pressure on palm oil prices in the second half of the year.
malaymail.comJun 5, 2020After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
